(CSE: LAG) April 20, 2017 – Laguna Blends Inc. has entered into an exclusive sales agreement with Naturally Splendid Enterprises Ltd. (TSXV: NSP) for its Cannaceutical skin care line consisting of seven unique products infused with CBDs.
Terms of this agreement require the global hemp-distribution company to make minimum annual purchases from Laguna totalling over USD $4 million within three years. Territories covered by this exclusive agreement include Japan and South Korea as well as additional countries that will be announced in a timely manner. Based on previous sales volumes reported from Laguna’s global hemp-distribution partner and the current market appetite for CBD skin products throughout Europe and Asia, Laguna anticipates sales of the Cannaceutical skin care line to far exceed these minimum purchase amounts. The Hemp Business Journal estimates the total U.S. CBD market will grow to $2.1 billion in consumer sales by 2020, with $450 million of those sales coming from hemp-based sources.
“This exclusive agreement gives Laguna global distribution for its revolutionary Cannaceutical skin care line,” said chief operating officer Marcos Agramont. “The growing popularity and known medicinal benefits of CBD-infused products has created a rapidly expanding multibillion-dollar global marketplace. By utilizing existing business relationships and distribution agreements throughout Europe and Asia, Laguna can market its expanding portfolio of unique CBD products to high-demand existing buyers in these regions, as well as throughout North America where CBD products can be sold.”
The company anticipates providing an update in the coming week as it works through the final stages of the pending transaction with a global CBD leader with annualized revenues of $12 million announced March 13, 2017.
Laguna Blends is a market leader in the distribution of hemp and CBD products. Laguna’s growth strategy includes acquiring and incubating companies which formulate and or manufacture hemp products. Laguna Blends markets hemp products utilizing its B-to-B network along with driving traffic to its Laguna Blends online marketplace.
It is Laguna’s intent to provide the highest quality hemp product experience for the end user, utilizing a proprietary nanotechnology in many of its consumable and topical skin-care products. Laguna is currently seeking joint ventures and acquisitions to expand its portfolio, and will aggressively begin international expansion into Asia and Europe in 2017.